Samsung SDI had revenue of US $3.769 billion in the third quarter, and its net profit increased by more than 50% compared with the same period last year.

October 28 news, according to foreign media reports, under the influence of the global economic downturn, the decline in demand for consumer electronics has also affected the performance of Samsung Electronics, LG Electronics and other manufacturers, resulting in a sharp decline in their profits.

Although the situation of Samsung Electronics and LG Electronics is not optimistic, driven by the increasing demand for electric vehicles, the demand for electric vehicle batteries is increasing, which has boosted the performance of battery manufacturers. Samsung SDI and LG New Energy, battery manufacturers of Samsung and LG, are also benefiting.

LG New Energy reported on Wednesday that it had revenue of 7.648 trillion won in the third quarter, up 89.9% from a year earlier and 50.8% month-on-month growth in operating profit of 522 billion won, up 166.8%.

Samsung SDI's third-quarter results have also been released. The results showed that revenue was 5.368 trillion won, or about $3.769 billion, up from 3.44 trillion won in the same period last year, up 56.1% from a year earlier, and up from 4.74 trillion in the previous quarter, up 13.2% from a month earlier.

On the profit side, the financial report showed that the operating profit was 565.9 billion won, up 51.5% from the same period last year, and the net profit was 31.9% higher than the previous month.